Clothing & Shoes
The latest news, updates and analysis on the clothing and shoes segment of the the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Mar- 2019 -25 March
Pretty Green set to appoint administrators this week
Fashion brand, Pretty Green is set to draft in administrators this week after it filed a notice of intention to appoint Moorfields Advisory to handle an insolvency protest. The brand, owned by Oasis frontman Liam Gallagher, called in advisors from the accountancy firm last month after sources told Drapers the…
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21 March
Next sees profits dip as store sales continue to fall
Next has announced a dip in its annual profits as the decline of its physical store sales continues. The fashion retailer’s pre-tax profits for the year to January were in line with expectations at £722.9m, a fall of 0.4%, this was attributed to store sales decreasing by 8% from…
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21 March
Ted Baker profits plunge 26% in 2018
Fashion retailer Ted Baker has reported a 26.1% drop in pre-tax profit to £50.9m for the year ending 26 January 2019, compared with £68.8m the previous year. In February, the retailer issued a profit warning and said profits had been “adversely affected” by three non-cash impacts, including: Foreign exchange movements…
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19 March
Marco Agnolin departs Diesel CEO role
Marco Agnolin has announced he has stepped down as CEO of Diesel after just over a year in the role. Agnolin will officially leave the role on 27 March, however he will continue to serve on the company’s board. The CEO joined Diesel in January 2018 after leaving Inditex’s Bershka…
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19 March
Bonmarche issues another profit warning
Clothing retailer Bonmarche has warned on its profits after it saw “significantly weaker” trading since the beginning of March. The retailer said its performance reversed sales gained in previous months and said if this continued for the rest of the month, it expected its underlying profit before tax to record…
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18 March
JD Sports to buy Footasylum for £90.1m
JD Sports has revealed it has made an offer to buy its remaining shares in struggling rival retailer Footasylum in a £90.1m takeover. JD Sports said it had “reached [an] agreement on the terms of a recommended cash offer” which will be financed from JD’s existing cash resources and facilities.…
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15 March
Jobs and stores could go as Green considers Arcadia restructure
Sir Philip Green is preparing to unveil a company voluntary agreement (CVA) for Arcadia in a matter of weeks, Sky News has reported. The proposal could result in a number of job losses and store closures across its high street brands which include Topshop, Miss Selfridge, Dorothy Perkins and Warehouse.…
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15 March
Inditex to merge Zara with Zara Home
Inditex is to merge Zara and Zara Home, despite growing the Zara Home brand since 2003. Integration plans have already been implemented in some locations, including St Petersburg, London and Madrid while the brands’ websites will continue to trade separately. For the meantime Zara Home will continue to trade as…
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13 March
Sergio Rossi opens flagship in London
Shoe and handbag brand, Sergio Rossi, will be opening its newest store on London’s Mount Street, Mayfair. The 100 sqm retail space will be its flagship with an aim to “perfectly summarise” the identity of the brand. The store concept has been created by architect Marco Costanzi and a collection…
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12 March
French Connection returns to profit despite sales drop
Embattled retailer French Connection has announced a return to profit for the first time in seven years, despite experiencing a sales drop during “difficult trading” conditions. Like-for-like sales during the 12 month period to 31 January fell by 6.8% due to decline in both in-store and online. However the company…
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